English documents

Sakhalin resort investment

By the official report from “Far East–Arctic Development Corporation” (FEDC), Sakhalim based construction Russian-Chinese company “Stroydomkomfort” will invest 250 million rubles to purchase wide range of construction machinery and equipment for the Territory of Advanced Development (TAD) “Gorny Vozdukh” (Mountain Air). While registered 4 months ago only, the company immediately received official status of this TAD resident with all set of privileges, despite long public tail of complaints from clients which the same named company of the same owner Jin Cheng Yen brought to the Far East from St Petersburg. Significant, that there is no official public data on this company with that location – only on Sakhalin. Currently company stated its plans to start creation here in 2024 blocks of living apartments and industrial buildings, two 4-star hotels and gulf course with creation of at least 30 jobs.

Jin Cheng Yen informed FEDC, that he will soon purchase all basic equipment – track cranes, excavator, forklift track, install concrete-mortar and foam-block units. Then company will be ready to start just constructing of any commercial estate on Sakhalin, which actually means to enter the most safe and profitable business in Russia now. By such successful renovation of his company, which became highly problematic around St Petersburg, Chinese businessman promised to present a wide set of jobs for carpenters, welders, electricians, concreters and other workers. Modestly hiding his doubtful experience at the Russian Nord-West, Cheng Yen points out officially that his company has a broad experience in living and industrial construction and already participated in several projects on Sakhalin – supermarket, skating stadium etc.

Regarding this extremely rapid Chinese business invasion to Sakhalin TAD, officials of FEDC repeatedly stated that attraction of the foreign investments is their key goal and listed all accompanying privileges for TAD residents – administrative, concerned to taxes, custom fees, migrants labor and consulting services. “Stroydomkomfort” specifically will also receive discount in insurance fees and zero profit tax which will help Cheng Yen to implement his plans.

TAD “Gorny Vozdukh” is located at the resort area around Yuzhno-Sakhalinsk and implement now 31 investment projects with total 17,2 billion rubles and 1132 new jobs. It includes already active restaurant complex at the mountain, apart-hotel of alp-style, trade-entertainment complex, set of hotels and air terminal. Mountain skiing complex here is highly popular winter resort for the whole Far East and attract thousands of people for at least 4 months since December through March. Experts consider, that such rapid involvement of such doubtful foreign investor from European Russia into Far East Advanced development territory demonstrates serious reduction of interest and trust to foreign investments in European Russia and deep lack of them at the Far East.